UN Labor Agency Says World Unemployment Could Rise By 50 Million In 2009

by Sabrina I. Pacifici on May 31, 2009

“The International Labour Office (ILO) issued new labour market projections for 2009, showing a further increase in unemployment, working poor and those in vulnerable employment…In the Global Employment Trends Update, May 2009 the ILO revised upwards its unemployment projections to levels ranging from 210 million to 239 million unemployed worldwide in 2009, corresponding to global unemployment rates of 6.5 and 7.4 per cent respectively. The Trends report projects an increase of between 39 and 59 million unemployed people since 2007 as the most likely range. Actual outcomes will depend on the effectiveness of fiscal expenditures decided by governments and on a functioning financial sector.”

  • Related postings on financial system
  • Previous post:

    Next post: